Mace is set to sign a contract to deliver the redevelopment of the King’s Reach Tower on the south bank of the Thames in London.

Work is expected to get underway after developer CIT Group secured £250m from a consortium of Middle Eastern investors to kickstart its 30-storey Kings Reach Tower scheme.

The complex job will see Mace oversee the refurbishment, recladding and extension of the main tower by an additional six storeys.

A series of extensions will be added to the T-shaped podium buildings to create extra retail space and a top class gym and pool.

The project will house around 173 luxury flats and 370,000 sq ft of office space.

Mace has been on board as a preconstruction advisor for several months and is expected to sign a contract shortly.

CIT managing director of development George Kyriacou said: “This development represents a major step in the regeneration of the South Bank. We are delighted to have worked with funders from the Middle East to get this project to the point where we are ready to start on site.”

Jadwa managing director Ahmed Al-Khateeb added: “Acquiring Kings Reach Tower back in 2010 and developing the tower demonstrates our belief in the London real estate market and in the investment opportunity it represents to us.”

The developers will begin selling the flats next year and it is anticipated the project will be complete by the end of 2015.

CIT and its joint venture partner Jadwa Investment secured planning permission for the Kohn Pedersen Fox-designed scheme from Southwark council last year.

The King's Reach tower redevelopment is so much better than the previous proposal (with those awful blue fins) This should give it a modern yet refined look without taking away from the character of the original design. It'll also help it blend into the new developments that (will eventually) go beside it.

Mace is set to sign a contract to deliver the redevelopment of the Kings Reach Tower on the south bank of the Thames in London.

Work is expected to get underway after developer CIT Group secured £250m from a consortium of Middle Eastern investors to kickstart its 30-storey Kings Reach Tower scheme.

The complex job will see Mace oversee the refurbishment, recladding and extension of the main tower by an additional six storeys.

A series of extensions will be added to the T-shaped podium buildings to create extra retail space and a top class gym and pool.

The project will house around 173 luxury flats and 370,000 sq ft of office space.

Mace has been on board as a preconstruction advisor for several months and is expected to sign a contract shortly.

CIT managing director of development George Kyriacou said: This development represents a major step in the regeneration of the South Bank. We are delighted to have worked with funders from the Middle East to get this project to the point where we are ready to start on site.

Jadwa managing director Ahmed Al-Khateeb added: Acquiring Kings Reach Tower back in 2010 and developing the tower demonstrates our belief in the London real estate market and in the investment opportunity it represents to us.

The developers will begin selling the flats next year and it is anticipated the project will be complete by the end of 2015.

CIT and its joint venture partner Jadwa Investment secured planning permission for the Kohn Pedersen Fox-designed scheme from Southwark council last year.

I like it, a much better design and really works well. Would love to have an apartment over looking the Thames on the higher floors :-)

actually there is nothing to stop you from filing an outline planning application for a site you don't own, or a scoping opinion either. few people do so, but potential developers have done it in the past BEFORE buying a site.

mitsubushi estate company owns 150 leadenhall and purchased it only recently.

Quote:

Mitsubishi Estate Company is reported to have paid £95m for the freehold interest
in this receivership sale. The transaction reflected a net initial yield of 7.00% and a
capitalised cost of £705.00 per sq ft. The property comprises 143,000 sq ft and is
let to Deutsche Bank AG until 2015. In addition, Mitsubishi Estate Company
recently purchased the adjoining 150 Leadenhall Street, EC2 for a reported £32m
which reflected a capitalised cost of £605.00 per sq ft.

actually there is nothing to stop you from filing an outline planning application for a site you don't own, or a scoping opinion either. few people do so, but potential developers have done it in the past BEFORE buying a site.

Not sure why BL would waste money alerting an owner of a site IF they were interested in it when all they have to do is have a word with a planning consultant or the planning authority.

JamieF- Not sure where your getting your info from mate but you might want to have a word. BL do not own this site and the Japanese owners have spent the last few years buying both these sites so so not sure where your getting that from. Similarly your other hint at another BL tower at Broadgate also seems wide of the mark considering the BG estate has a new viewing corridor imposed on it that had already caused another tower to be cancelled some time back.

The planning exhibition for the Smithfield proposals was today. I went, very informative. Not sure how Save intend to build whatever their plans are, but we shall wait and see. What I found astonishing though was the amount of lean English Heritage had and basically dictated to the architects what the design should be. TfL refuse to pedestrianise the road running between the market and cold store, which hampered a lot of the original proposal to create a piazza street.

The moderator has made no attempts to modify/revise this listing despite recommendations and input from others. Not sure why we have someone who tags himself a moderator when no action has been taken for some time. Many of the projects still listed are either on hold, cancelled, built, revised or otherwise obsolete. This list is currently serving no purpose whatsoever and is in fact misleading.

Sorry guys, I simply have not had the time to update the original post. If one of you is willing to modify the original post you are welcome to do it. Just quote the original post and modify it with the updated data and PM me the finished work and I will change it.